H.R. 3898 — what changed
Otto Warmbier North Korea Nuclear Sanctions Act
From Reported in House to Engrossed in House. 2 sections amended between Reported in House and Engrossed in House.
Section 1 Short title
changed
This Act may be cited as the “Impeding “Otto Warmbier North Korea’s Access to Finance Act of 2017”.Korea Nuclear Sanctions Act”.
Sec. 4 Opposition to assistance by the international financial institutions and the Export-Import Bank
International financial institutions— The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended by adding at the end the following:
“73. Opposition to assistance for any government that fails to implement sanctions on North Korea
changed
“(a) In general—The Secretary of the Treasury shall instruct the United States Executive Director at the international financial institutions (as defined under section 1701(c) of the International Financial Institutions Act) to use the voice and vote of the United States to oppose the provision of financial assistance to a foreign government, other than assistance to support basic human needs, if the President determines that, in the year preceding consideration of approval of such assistance, the government has knowingly failed to prevent the provision of financial services to, or freeze the funds, financial assets, and economic resources of, a person described under subparagraphs (A) through (E) of section 7(2) of the Impeding Otto Warmbier North Korea’s Access to Finance Act of 2017.Korea Nuclear Sanctions Act.
“(b) Waiver—The President may waive subsection (a) for up to 180 days at a time with respect to a foreign government if the President reports to Congress that—
“(1) the foreign government’s failure described under (a) is due exclusively to a lack of foreign government capacity;
“(2) the foreign government is taking effective steps to prevent recurrence of such failure; or
“(3) such waiver is vital to the national security interests of the United States.”
Export-Import Bank— Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)) is amended by adding at the end the following:
changed
“(14) Prohibition on support involving persons connected with North Korea—The Bank may not guarantee, insure, or extend credit, or participate in the extension of credit in connection with the export of a good or service to a covered person (as defined under section 7 of the Impeding Otto Warmbier North Korea’s Access to Finance Act of 2017).”Korea Nuclear Sanctions Act).”